Wall Street’s ChatGPT Nightmare Scenario Gets a Reality Check

In a dark future for humans on Wall Street, banks fire traders en masse as artificial intelligence models like ChatGPT take over bond and commodities markets that were once too tough to automate.

But not yet. And maybe not ever.

Wall Street banks are taking steps to limit or prohibit its use, including JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc. And the traders and other professionals that are dabbling in the technology are quickly finding that, while it could make some of their most mundane tasks faster, the process is hardly seamless.

• A salesperson at ...